Iraq earns another $452 million in UN's oil-for-food programme
21 August -- Iraq exported 17.5 million barrels of oil last week, earning an additional $452 million for the United Nations humanitarian "oil-for-food" programme, according to the latest figures released today by the UN office administering the scheme.
Meanwhile, the Security Council Committee monitoring the sanctions against Iraq, known as the "661 Committee," approved another two contracts last week for the sale of Iraqi oil, the Office of the Iraq Programme said. One contract, with a Russian company, was for six million barrels for Europe and Asia. The other was with a Panamanian company for 1.5 million barrels for Europe.
The Committee has approved 97 contracts since the current phase of the programme began on 9 June, with a total volume of nearly 383 barrels. Over the same period, Iraq has exported oil worth more than $3.4 billion.
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